02.10.2014

Billionaire Warren Buffett tore into Republican presidential candidate Donald Trump at a campaign rally for Hillary Clinton on Monday, criticizing Trump’s war of words with the family of a Muslim American soldier who was killed in action. In introducing Clinton in his hometown of Omaha, Nebraska, Buffett took exception to Trump’s claim that he, like the family of Army Capt. As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people.
The big movers for the metals this week will most likely be the Bank of England rate decision and the US Non-Farm Payrolls Report. And as always, any exogenous hiccups in the smooth seas being prepared by the central banks, who are spreading the oil of excess liquidity and negative rates on the choppy seas of poor economic growth. Back in February, we brought you an update on the truly insane real estate bubble in Australia (see: “Australia’s Housing Bubble – In the Grip of Insanity” for details) in the wake of Jonathan Tepper of Variant Perception reporting on an eye-opening fact-finding tour in Sydney.
In terms of trailing-twelve month EPS, what was supposed to be the start of the anticipated turnaround is now really more of the same. Other than individual bank stocks, Friday’s EBA report had little overall effect on core markets as we heard nothing that we were not already familiar with. Gold and silver equities fell over 1% in the first ten minutes of trade, but then then bounced back higher into the close and ended with over 1% gains.

Many a-list celebs have tones of fame but their fortunes are small potatoes compared to these folks, the billionaires.
The story of millionaire Simon Cowell, who dropped out of school at 15, worked for Sony BMG and EMI Music. Our roundtable guests talk about their roles as agents and being acknowledged by their clients. The world knows Valeria Lukyanova as the girl who turned herself into a real-life Barbie doll. The price of oil was supposed to start going back up, and this would have brought much needed relief to economically-depressed areas of North America that are heavily dependent on the energy industry. On some great and glorious day the plain folks of the land will reach their heart’s desire at last, and the White House will be adorned by a downright moron. We only need to think back to the Nikkei index in the late 1980s, the Nasdaq in the late 1990s, or the grand-daddy of modern-day bubble insanity, the Souk Al-Manakh bubble in Kuwait in the early 1980s. By the week of June 22, just prior to the start of Q2 earnings season, that estimate had only declined slightly to $26.38. The Nikkei opened around 1% lower and then spent the rest of the day trying to recoup opening losses, which was pretty similar to the Hang Seng.

For the week of July 21, just a month later, with about one-third of companies reporting the earnings figure sank to $24.89.
Shanghai, on the other hand, found it extremely difficult to bounce having just seen weaker PMI at 49.9 against an expected 50 forecast.
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Still others say the plain folk reached their heart’s desire when Obama adorned the White House.
ACTIONS YOU UNDERTAKE AS A CONSEQUENCE OF ANY ANALYSIS, OPINION OR ADVERTISEMENT ON THIS SITE ARE YOUR SOLE RESPONSIBILITY. In late US trading both China300 and the Nikkei have declined around 1% from the cash close. In less than two months, the “oil rally” that so many were pinning their hopes on has been totally wiped out, and if the price of oil continues to stay this low it is going to have very seriously implications for our economy moving forward.